WASHINGTON (1/25/11)--In the U.S. Congress this week, action of interest to credit unions will be concentrated in the House, while the Senate continues to pursue organizational tasks. The House Monday began consideration of a 2011 budget resolution (H.Res. 38), which is aimed at reducing federal spending to fiscal year 2008 levels, and work on that resolution is expected to continue today. That body is also scheduled to take up two bills under suspension of the rules today, one of which would extend funding authorization for U.S. Small Business Administration (SBA) lending programs until May 31. The funding would cover such SBA programs as its 504 guaranteed lending, which is set to expire on Jan. 31. Also of note in the House:
* The House Financial Services Committee meets today to organize for the 112th Congress. The committee is expected to consider resolutions establishing its rules and electing members to subcommittees. Nominations were made public last week; and * On Wednesday, House Financial Services, as reported earlier, has scheduled a hearing on "Promoting Economic Recovery and Job Creation: The Road Forward."
When the House adjourns on Wednesday, it is next expected to meet on Feb. 8. The Senate returns to session today and will resume debate on amendments to the Standing Rules of the Senate. Several changes to the Senate rules related to the filibuster, secret holds and nominations have been proposed. The Senate is expected to be in session next week.